Once the PO has been set up in India for executing a specific project in India under general permission, at times, the overseas entity is awarded another project by the same or a different project awarding entity. In view of the same, can maintaining of bank account at entity level, filing of AACs, complying with submission of closure documentations on completion of the project and maintaining of books of accounts at entity level be complied with at PO entity level instead of at specific project level?

Once the PO has been set up in India for executing a specific project in India under general permission, at times, the overseas entity is awarded another project by the same or a different project awarding entity. In view of the same, can maintaining of bank account at entity level, filing of AACs, complying with submission of closure documentations on completion of the project and maintaining of books of accounts at entity level be complied with at PO entity level instead of at specific project level? https://www.taxtmi.com/manuals?id=6356 Project-level compliance is required: bank accounts, statutory filings (including annual/accounts and compliance communications), submission of project closure documentation upon completion, and maintenance of books of accounts must be maintained for each specific project office; consolidated entity-level arrangements for separate projects are not permitted to satisfy these obligations. en-us Tue, 10 Dec 2024 14:30:00 +0530 Tue, 10 Dec 2024 14:30:00 +0530 TaxTMI RSS Generator Once the PO has been set up in India for executing a specific project in India under general permission, at times, the overseas entity is awarded another project by the same or a different project awarding entity. In view of the same, can maintaining of bank account at entity level, filing of AACs, complying with submission of closure documentations on completion of the project and maintaining of books of accounts at entity level be complied with at PO entity level instead of at specific project level? https://www.taxtmi.com/manuals?id=6356 Project-level compliance is required: bank accounts, statutory filings (including annual/accounts and compliance communications), submission of project closure documentation upon completion, and maintenance of books of accounts must be maintained for each specific project office; consolidated entity-level arrangements for separate projects are not permitted to satisfy these obligations. Manuals FEMA Tue, 10 Dec 2024 14:30:00 +0530 https://www.taxtmi.com/manuals?id=6356